The purpose of this chapter is to allow the city to approve development projects in the Linda Vista specific plan area which, but for the existence of a valid funding mechanism for certain public improvements designated in the Linda Vista specific plan as high priority improvements must be denied. The payback fee established by this chapter is an integral and necessary part of the funding mechanism which will empower the city to approve such development projects otherwise meeting the city's laws, goals and policies relative to development in the Linda Vista specific plan area. In order to generate funds necessary to reimburse city and developers who, pursuant to development agreements, construct said improvements designated "high priority improvements" in the Linda Vista specific plan, this chapter establishes and imposes a high priority improvement payback fee (payback fee) on all new construction in the area of the Linda Vista specific plan benefited by said high priority improvements, and in any additional contiguous area which may in the future be determined by Council resolution to be similarly benefited; to create a process for the annual determination of the amount of said fee; and to establish the procedures for its collection. The Council shall, by resolution, define the area, which area shall be benefited, subject to said payback fee (payback fee area).
(O4085)
A payback fee is established and imposed on all dwelling units constructed within the area covered by the Linda Vista specific plan and in any additional contiguous area which may, in the future, be determined by Council resolution to be similarly benefited (payback fee area). This fee shall be collected at the time of building permit issuance and no building permits shall be issued for any dwelling units constructed within the payback fee area, except upon evidence of said payment.
(O4085)
In the resolution fixing the cost of the payback fee imposed by this chapter, the Council may create an exception from the obligation to pay such fee for: (1) rehabilitation to an existing residential unit which adds less than 50% to the existing value of the structure; (2) accessory dwelling units, as defined by Title 17 of the code, constructed as an accessory unit to existing dwelling units; (3) no more than one new single-family dwelling unit constructed in an existing lot of record as of February 28 (deep-lot exemption); and (4) only one single-family dwelling unit can be constructed on each of the two lots created by a subdivision of an existing parcel of record as of February 28, into not more than two lots.
(O4085; O4262)
On or before July 1st of each year, the Public Works Director shall prepare and submit a report to Council containing his or her recommendation for the amount of the payback fee to be collected during the next calendar year. This recommendation shall be that amount which, in the Director's judgment, when applied to all new construction within the payback fee area anticipated by the director to be built during the remaining term of the applicable development agreements would result in the collection of funds sufficient to fully reimburse the city and the developers under said development agreements. The draft resolution and associated studies shall be available to the general public for a period of at least 14 days prior to the public meeting. On or before July of each year, the Council shall, upon due consideration of the report of the Public Works Director, adopt a resolution at a noticed public meeting in accordance with Government Code Sections 66016, 66017 and 66018 establishing the amount of the payback fee imposed by this chapter, which fee shall be collected from all dwelling units constructed in the payback fee area, except as otherwise provided by this chapter. After the third year of adjusting the payback fee in accordance with this section, the annual increase, if any, shall thereafter not exceed their most recent Engineering News Record Cost of Construction Index applicable to the subject area.
(O4085; O93-043)
The payback fee imposed by and collected pursuant to this chapter in amounts established by resolutions adopted pursuant to this chapter shall not be reduced except on an express finding by the Council contained in the resolution establishing the amount of the payback fee that the collection of fees at the rate then in effect will, if not reduced, result in a fund in excess of the amount necessary to fully reimburse the city and the developers who funded (or constructed) the "high priority" improvements pursuant to the development agreements adopted by Ordinance 4089.
(O4085)
Whenever the Council proposes to take an action including, but not limited to, actions relative to the Linda Vista specific plan which may have as an effect the reduction in the total number of potential dwelling units to be constructed in the Linda Vista specific plan area below 800 dwelling units, then the Council shall require city staff to prepare a report on the fiscal impact of the proposed change. After review of the report in a public hearing, the Council may take a proposed action which has a demonstrated negative fiscal impact on the total amount of funds likely to be collected under this chapter, but only upon making a finding that the proposed action will not result in insufficient funds to fully reimburse city and developers for high priority improvements. Upon a finding that amending the fee resolution pursuant to Section 15.88.040 will eliminate the negative fiscal impact, the Council may so amend the fee resolution and thereafter take the proposed action.
(O4085)
There is established an interest-bearing fund into which all fees collected pursuant to this chapter shall be deposited. The Finance Director shall maintain said fund and shall make payments therefrom not less frequently than quarterly to the developer funding (or constructing) the subject "high priority" improvements pursuant to the development agreements adopted by Ordinance No. 4089. An accounting shall be provided the developer with each payment.
(O4085)
In the event there remains money in the interest-bearing fund established by Section 15.88.060 after the city and the developers under said development agreement(s) have been fully reimbursed for funding high priority improvements, and all mitigation measures required by the Linda Vista specific plan have been constructed (whether designated "low," "medium," or "high" priority) then such remaining funds shall be returned pro rata by the Finance Director to then owners of record of the lots on which dwelling units subject to the payback fee were constructed.
(O4085)
This chapter shall be in full force and effect from and after its adoption and publication or as soon thereafter as all precedents of law have been met. This chapter shall remain in effect until the city and developers funding high priority improvements pursuant to development agreements adopted by Ordinance 4089 shall have been fully reimbursed.
(O4085)